โฃ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins
โฃ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows
โฃBreakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts
โฃ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position.
๐ Important levels ( also most of it depends on your entry and mindset during trading hours )
โฃ A 1hr close on 685-687 levels can trigger a breakout as explained in the terms section above โฃ Risk of 3% can be taken at the point = 660 points to be specific from entry โฃ Targets can be 1- 722 and 2- 750 for your 5% and 10% up move profit booking of the initiated swing trade
๐ Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :)
โ Motivational and psychological area โ
โฃTrade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. โฃIf you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow โฃDon't lose hope and keep grinding โฃI have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. โฃFocus on the process, you are here to make money not stupid decisions and lose it all โฃNo one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. โฃBelieve in yourself :)
๐๐ Some info about me :)
โผMy name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. โผI hope you will love my simple analysis style. โผFeel free to suggest your view on this as learning is earning here :) โผI take my trades on my Zerodha account :) โผI don't take all the trades I post โผThese charts are my and only my work, my thought process, just from an educational point of view and no calls.
โโโโ Thank You Have a Nice Trading Day โโโโ
I must say, analysis more about learning . this is way to take trade with strong confirmation. All the points u have mention in checklist are important for reconfirmation.
it shows ur hardwork and dedication towards trading. I am learning from your posts
THANKS YOU SO...MUCH
it shows ur hardwork and dedication towards trading. I am learning from your posts
THANKS YOU SO...MUCH